Intuit (NASDAQ:INTU) Trading Down 0.3%

Intuit Inc. (NASDAQ:INTU) dropped 0.3% during trading on Monday . The stock traded as low as $602.86 and last traded at $603.09. Approximately 208,876 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,235,025 shares. The stock had previously closed at $605.17.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Piper Sandler increased their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Wells Fargo & Company boosted their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Susquehanna increased their price target on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Stock Up 3.5 %

The business’s fifty day moving average is $641.83 and its two-hundred day moving average is $601.63. The stock has a market cap of $176.65 billion, a price-to-earnings ratio of 64.38, a PEG ratio of 3.71 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Equities analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is presently 36.73%.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $2,101,848,000. Wellington Management Group LLP lifted its holdings in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Lone Pine Capital LLC purchased a new stake in shares of Intuit during the 4th quarter worth $467,852,000. Parnassus Investments LLC grew its stake in shares of Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.